89bio’s (ETNB) “Sell (D-)” Rating Reaffirmed at Weiss Ratings

89bio (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating restated by analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

ETNB has been the topic of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. UBS Group increased their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of 89bio in a research report on Friday, March 14th. They set a “neutral” rating and a $11.00 target price on the stock. Wolfe Research began coverage on shares of 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating on the stock. Finally, Citigroup began coverage on shares of 89bio in a research report on Thursday, March 13th. They set a “buy” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 89bio currently has a consensus rating of “Buy” and an average target price of $26.43.

89bio Stock Down 1.7%

Shares of ETNB opened at $9.49 on Friday. 89bio has a 52 week low of $4.16 and a 52 week high of $11.84. The firm has a market cap of $1.39 billion, a P/E ratio of -3.26 and a beta of 1.23. The firm’s 50-day simple moving average is $7.34 and its 200 day simple moving average is $8.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66.

89bio (NASDAQ:ETNB) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.01. During the same quarter last year, the business posted ($0.54) earnings per share. On average, analysts forecast that 89bio will post -3.19 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the sale, the insider now owns 328,323 shares in the company, valued at approximately $1,953,521.85. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of 89bio

Several large investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 89bio by 50.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,798 shares of the company’s stock worth $1,954,000 after acquiring an additional 90,107 shares in the last quarter. Woodline Partners LP lifted its stake in 89bio by 77.5% in the 1st quarter. Woodline Partners LP now owns 700,754 shares of the company’s stock valued at $5,094,000 after purchasing an additional 305,928 shares during the last quarter. Exome Asset Management LLC lifted its stake in 89bio by 57.1% in the 1st quarter. Exome Asset Management LLC now owns 353,882 shares of the company’s stock valued at $2,573,000 after purchasing an additional 128,559 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in 89bio by 23.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 995,449 shares of the company’s stock valued at $7,237,000 after purchasing an additional 188,367 shares during the last quarter. Finally, Infinitum Asset Management LLC bought a new position in 89bio in the 1st quarter valued at approximately $3,635,000.

89bio Company Profile

89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. Its lead product candidate is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.